Home Prices and Mortgage Interest Rates to Rise in 2016

Your home’s mortgage payment is based on the price of the home (minus the down payment), and the interest rate for the loan.

Both prices and interest rates will likely rise in 2016.

Home Prices

CoreLogic anticipates a national 5.2% home value increase for the next year. The percentage varies by state, with WA, CA, NV, UT, AZ, NM, FL, and VT seeing the greatest increase at an average of  7.6% (the highest being CA at 10.8%, the lowest of this group being NM at 6.0%). The lowest forecasted home price increase is WV at 1.3%.  Clearly, the majority of the country is projected to see a real home value appreciation that outpaces currency inflation (0.5% from 2014-2015).

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Mortgage Interest Rates

All four establishments who provide future projections on mortgage interest rates agree that rates will rise in 2016. The following table shows the change for each quarter of the next year.

Quarter	Fannie Mae	Freddie Mac	MBA	NAR	Average of all four
2016 1Q	3.9	4.0	4.2	4.1	4.05
2016 2Q	4.0	4.2	4.4	4.3	4.23
2016 3Q	4.0	4.4	4.6	4.6	4.4
2016 4Q	4.1	4.6	4.8	4.9	4.6

So, What’s the Bottom Line?

Since home prices and interest rates expected to increase over the next year, it makes sense to buy sooner rather than later, if you are buying a new home.

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Benchmark.us New Website Update

Benchmark.us Has a New Look!

Today, we are excited to release our all new website here at Benchmark.us. (it was a labor of love, and is long overdue)

The Design Plan for Our New Website at Benchmark.us

When we set out to make a new website, we started by thinking about our clients: YOU. We wanted our new website to be mobile-friendly, up-to-date with a clean modern design, and (most importantly) to provide you with tools to make the best decision for you when choosing your mortgage lender.

A Few Highlights

Lifetime Loan Concept

One of the sections on our new website that we want to highlight is our LIFETIME LOAN approach – which is simply our way of doing business. We strongly believe that our job is not over when you finish closing on your new home. We continually monitor your loan and the market for the best next move for your mortgage.

Our Core Values

We also have an entire section on our new website dedicated to our CORE VALUES, where you can learn more about what drives us and our desire to help you in the purchase of your new home, or the refinance of your current home.

Mortgage Learning Center

For those of you who are new to the home buying process or are not sure where to start, we have created the BENCHMARK UNIVERSITY (located under our Resources tab on our new website) where you can find information about the loan process, information concerning gathering documents, select FAQ’s, and four free ebooks for you to download!

Real Client Testimonials

Do you want to read what others are saying about Benchmark, or do you want to let others know about your own experience? Check out our TESTIMONIALS page where you can read testimonials left by others, and you can even leave your own!

We are pleased to finally present this new website to you, and we hope that you find it to be enjoyable, helpful, and easy. Thank you for allowing Benchmark to be your mortgage lender of choice!

-Benchmark Media Team

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